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British Columbia Province to Regulate Electricity Supply for Crypto Miners

💎 Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, said Thursday that the province is working to address high energy consumption by crypto miners in the region. This creates very few jobs or economic opportunities, she added.

📊 Per the ministry’s statement, the legislative amendment would allow the government to prohibit or limit electricity usage for crypto miners. This is because the “unchecked growth” of the sector could make it expensive to supply electricity to homes and businesses.

🔼 In December 2022, the province has called for a suspension of new electricity connections for cryptocurrency mining for 18 months. That said, around 21 projects were temporarily suspended, which had requested total of 11,700 gigawatt hours of power per year.

🧬 According to a local report, minister Osborne noted that the province is working with British Colombia Hydro, the provincial power utility, to ensure there is enough electricity for the province’s future.

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Create: 2024-04-12
Last Update: 2024-05-29 14:15:02

British Columbia Province to Regulate Electricity Supply for Crypto Miners

💎 Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, said Thursday that the province is working to address high energy consumption by crypto miners in the region. This creates very few jobs or economic opportunities, she added.

📊 Per the ministry’s statement, the legislative amendment would allow the government to prohibit or limit electricity usage for crypto miners. This is because the “unchecked growth” of the sector could make it expensive to supply electricity to homes and businesses.

🔼 In December 2022, the province has called for a suspension of new electricity connections for cryptocurrency mining for 18 months. That said, around 21 projects were temporarily suspended, which had requested total of 11,700 gigawatt hours of power per year.

🧬 According to a local report, minister Osborne noted that the province is working with British Colombia Hydro, the provincial power utility, to ensure there is enough electricity for the province’s future.

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Date: 2024-05-29| GimmeTheCoin

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